2025年年度报告（英文版）

Full Text of the Annual Report 2025 of TCL Technology Group Corporation1TCL 科技集团股份有限公司TCL Technology Group CorporationANNUAL REPORT 2025March 2026Full Text of the Annual Report 2025 of TCL Technology Group Corporation2Seizing Development Opportunities in a Dynamic LandscapeANNUAL REPORT 2025 Chairman's Statement2025 saw accelerated restructuring of the global economic landscape. Trade protectionismhas continued to intensify, and geopolitical competition has profoundly disrupted the layout ofglobal industrial chains. Meanwhile, a new round of technological revolution—spearheaded byartificialintelligence—isreshapingindustriallogicandcompetitiveparadigmswithunprecedented reach and complexity. Against this challenging external environment, theCompany has always anchored itself to the strategic goal of "Global Leadership", focusing on thethree core business pillars—displays, new energy photovoltaics, and other silicon materials. Ouroperating revenue achieved RMB 184.06 billion, representing an increase of 11.7% YoY; netprofit attributable to shareholders of the listed company reached RMB 4.52 billion, up 188.8%YoY; and net cash flow from operating activities amounted to RMB 44.02 billion, up 49.1% YoY,indicating the steady growth of our operating efficiency and ongoing enhancement of our corecompetitiveness.TCL CSOT's display business delivered high-quality growth, with significantly improvedprofitability. During the Reporting Period, TCL CSOT recorded revenue of RMB 105.24 billionand net profit of RMB 8.01 billion. The Company further consolidated its competitive advantagesin large-size TV and commercial displays. The Company's market share in medium-size LCDproducts—including notebooks, tablets, automotive displays, and professional displays—rosenotably, achieving breakthroughs in both scale and profitability. Small-size products werestrategically positioned in the mid-to-high-end market, with operational performance improving atan accelerated pace. Meanwhile, the Company actively expanded its M-LED business. During thesame period, TCL CSOT further strengthened the integration and deployment of its core assets.The Generation 8.6 t9 factory achieved full-capacity production; the acquisition of LGDGuangzhou’s Generation 8.5 factory (t11) was completed. The Company also acquired minoritystakes in the Generation 11 t6 and t7 projects held by Shenzhen state-owned capital, therebyboosting profitability. In addition, the Generation 5.5 printed OLED line (t12) was expanded tosupport mass production and delivery, while construction kicked off for the Generation 8.6Full Text of the Annual Report 2025 of TCL Technology Group Corporation3printed OLED production line (t8). The investment in industrial ecosystem projects laid thefoundation for sustainable development. The Company believes that as the global display industrylandscape undergoes restructuring, Chinese enterprises have solidified their advantages in theLCD sector. Looking ahead, competition in the in